Auto Loans in Weatherford (TX)

A car is one of the biggest assets you own, so it is critical to set up your financing through lender you can trust. We enable you to apply for financing through our extensive network of dealers and lenders. You will be guided one step at a time through the process by a lending professional near you.

Auto Loans in Weatherford for New Cars

Many people elect to finance a new car rather than a pre-owned one just because it’s easier.

However, if your credit isn’t perfect, the rapid loss of a new car’s resale value, along with high rates of interest, can result in negative equity, so a strong down payment is advisable. However, banks and finance companies look at new cars as less risky than used ones, which means it could be simpler to get a new auto loan for people with terrible credit.

Used Car Loans in Weatherford

Preowned cars are more affordable, that goes without saying. This means lower monthly payments and insurance rates. Pre-owned vehicles are often financed for shorter periods. This generally means less total interest, even when you have a higher rate. Many finance companies, however, will require that you purchase from a dealer rather than a private party. It is smart to hire an automotive technician to examine the vehicle prior to purchasing it, or consider a certified preowned car or truck.

Bad Credit Car Loans in Weatherford

Borrowers who have favorable credit enjoy highly affordable loan rates and great terms. However, most of us don’t have this luxury. Seeking out a lending company in Weatherford that works with bad credit is a must. After all, you don’t want to get turned down or be hit with an inflated rate of interest. Through us, you can contact an automotive financing expert from a lender or dealer in our network who wants to get you in the driver’s seat.

Believe it or not, financing a car can increase your credit score by leaps and bounds. As part of an effort to steer clear of missed payments, investigate options such as automatic payments. Selecting the right payment amount is crucial. By way of example, suppose you make $2,897 per month, the average for Weatherford residents.

  • Low Payment: $145 (5%)
  • Intermediate Payment: $232 (8%)
  • Max Payment: $290 (10%)

Weatherford Buy Here Pay Here Car Lots

In house financing, better referred to as buy here pay here financing, has expanded in the past few years, largely because so many consumers’ credit ratings took hits on account of the down economy. Such dealerships approve credit lines on site, whereas a lot of dealers make use of banks and finance companies, and they are more concerned with your job than your credit. You will see that higher-mileage cars and trucks are the only ones for sale, and you may need to pay weekly, at the dealership. Repossession is a common occurrence, and the interest rates are nothing short of staggering. Is elevating your credit one of your goals? Then you are better off applying through us, as buy here pay here dealers will not help you restore your credit.

Loan Amounts for Weatherford Residents

The size loan you can borrow is based on your income bracket and credit tier. Check out these amounts based on an income of $2,897 per month, which is the average in Weatherford.

Credit Multiplier Amount
Great Credit 10 $28,970
Decent Credit 9 $26,073
Temporary Bad Credit 8 $23,176
Bad Credit 7 $20,279
Very Bad Credit 6 $17,382

Do not finance a more expensive car than you need, only because it’s possible.

How Much Car You Can Afford at $232 a Month

In the end, the recommended finance package involves the following: down payment of 20%, car payment of less than 10% of monthly income, and term length of 60 months or less. With an income of $2,897 a month, let’s see how much you could spend based on your credit.

Great Credit Fair Credit Poor Credit
Payment $232 $232 $232
Rate 3.50% 7.00% 10.00%
Months 60 60 60
Purchase Price $15,925 $14,630 $13,635
Down Payment $3,185 $2,926 $2,727
Amount Borrowed $12,740 $11,704 $10,908
Total Interest $1,166 $2,201 $2,998
Price with Interest $17,091 $16,832 $16,633

Your New Car is Waiting

No matter your credit, we’re ready to help you find the funds you need. Talk with an automotive finance specialist in your area today.